Getting information to consumers is an important aspect of our mission. We seek to enable people to build their financial assets through starting a business, home-buying, and saving more money.

Helpful Consumer Tips

You may not realize how many areas in your life are impacted by consumer protection laws at the state and federal level. It's important to know your rights & have a game plan when you're confronted with problems as a consumer.

When you consider how often you or someone you know has experienced problems with debt collectors, it is important to consider the possibility that the creditor may be violating at least one consumer protection law.

Sometimes the violation may be continuing to call you when you have asked them not to call any more. Other times the debt collector may call your neighbors or your employer and cross the line of what they are allowed to say to someone else concerning your financial information.

There may be times when a debt collector continues trying to have you pay a debt after you have made it clear that the debt does not belong to you. They may also threaten to have you arrested or send someone to your home to collect the debt.

These actions as well as others by debt collectors may violate the Fair Debt Credit Protection Act (FDCPA), the Fair Credit Reporting Act (FCRA), and the Telephone Consumer Protection Act (TCPA).

What should you do?

Do read letters from debt collectors. The letters may explain your rights and include important timelines.

Do remember not to agree to a payment plan that you cannot afford.

Do remember to have the debt collector send you the agreement in writing before you agree to share any of your financial information.

Do remember to respond to a notice to appear in court. This may be your chance to tell your side of the story. No matter what is going on you cannot ignore a summons. If you do the creditor will get a default judgment against you and may garnish your wages.

Whether you believe you owe the debt or not, it is important to make sure that every time you discuss the debt with someone, you document the conversation in writing. If you agree to a debt repayment plan remember that the final amount will include interest, attorney fees and other costs, which will add a significant amount to the debt. Be sure you know what you are agreeing to before you sign any document provided by the debt collector.

Vital Tip #1 Although it’s expensive and you may not want to spend the money, it is really important for you to send all letters using Certified Return Receipt Requested (you need the green card with a signature to prove the letter was received and in some cases it will start the clock for how much time the debt collector has to respond to you).

How infuriating is it when your cell phone rings constantly and you don’t recognize the number? Well, there are debt collectors who are so determined to connect with you that they will use automatic dialing systems to call your cell phone number and any other telephone numbers you included in your application. Most of us know these debt collectors are also known as “cobo callers.” You know it’s them calling when you answer the phone, no one is on the other end of the call because it may take a while for the calling system to recognize that a “real voice” is on the phone and the caller scrambles to get to the phone before you hang up the phone and disconnect the call.

Calling your cell phone without your permission is against the law. In order to support your claim, you need to save the voicemail messages and try to identify the phone number from your telephone bill.

Vital Tip #2 Be very careful with your cell phone number. When you include the number on applications, surveys, or contest entries, the fine print generally gives permission for you to receive text and automatic (robo calls). You have the right to revoke that permission.

Have you noticed that when you get ready to make a large purchase, the merchant doesn’t ask you have the money, the first question is, “what’s your credit score?” The information in your credit report impacts nearly every aspect of your life and includes details of your financial history. The score determines whether you qualify for a mortgage, car loan and may even determine whether you are able to rent a place to live. Even when you are able to get a loan you may pay a higher interest rate because of negative information on your credit report.

Monitoring your credit report is the first step in the process of you taking control of your credit and financial history. Please don’t pay someone to do for you what you can do for yourself.

The best way to begin is to order your credit report from each of the three main Credit Reporting Agencies, better known as credit bureaus. Each credit bureau gathers and reports different information or accounts so it is important for you to have information from each one in order to establish your financial baseline. Also, you won’t always know which credit bureau your particular creditor uses when they are considering your application for credit.

There is no reason to pay for a copy of your credit report. Each credit reporting agency is required to give you a free copy of your report each year. You can request the copy directly from the agency or from the official site, www.annualcreditreport.com. Please don’t use www.freecreditreport.com, unless you want to subscribe to credit monitoring services.

When you receive your report it is important to review the details. Be sure the information is correct. There may be account and contact information that does not belong to you. Always write a letter with the information you want to dispute and include specific details on why the reported information is incorrect. Remember to send your dispute letters via certified mail with return receipt requested.

Vital Tip #3 Remember to check your credit report at least three months before you plan to make a major purchase. If there are errors, they will take time to fix and you don’t want to rely on a second chance with the creditor. Also, stop signing up for in-store instant credit offers and mailings claiming you are preapproved. When you respond to these offers, an inquiry is created on your credit report and the inquiries (not when you check your report) stay on your report for two years. To a creditor, too many inquiries indicate a problem because you are searching for credit.

Physical Security – If a victim of identity theft keeps a copy of police report with you.

Vital Tip #4 Remember to trust your instinct and when you’re not sure whether something is legitimate, ask for help. There are resources specifically designed to help you regain and maintain financial wellness and stability.

Resource Guide with Helpful Organizations

The following list contains resources to help you to get on the path to buying a home, save for emergencies, college and retirement, move out of poverty, get out of debt, and ensure that Colorado’s children obtain financial literacy skills early.

Use the search bar to find organizations that provide the services you need! This list is not comprehensive yet -- eventually we hope to add all organizations that provide asset building and financial education services in Colorado. We want to cover every part of the State!

Don't see an organization that should be on here? Please contact us to make a suggestion.

Organization

Mission

Services Categories

Community Served

Area Served

Website

Phone

ABLE Colorado

The new Colorado ABLE plan helps individuals save, while preserving their SSI and Medicaid.

Create and preserve housing, and other opportunities for under-served households including those that are low, and moderate income, Spanish-speaking, and those with special needs. Addresses the low-income area’s severe housing needs and to create economic development opportunities.

The Family Opportunity Mortgage Loan program provides an unique mortgage product that enables people to mortgage properties that would not count as a second home in order to house a disabled person, senior citizen or college student. The info link provided is a description of the program only. You simply need to find a mortgage lender that provides the product.

Provides innovative educational courses that guide individuals and organizations to become more aware of the ways in which financial stress affects their overall well being and develop strategies to manage resources, reduce stress, and improve health.

Our mission is to strengthen American Indian economies to support healthy Native communities. We invest in and create innovative institutions and models that strengthen asset control and support economic development for American Indian people and their communities.

Strengthens communities and provides pathways to economic and personal opportunity through affordable housing, educational programs and support service. We envision a community in which everyone has a safe place to call home and the resources they need to thrive.

To advance the economic success of families with limited opportunities, as an organization grounded in our Latino heritage. We empower families to create economic stability and flourish for generations.

Represents and serves a geographically and ethnically diverse group of more than 100 non-profit community development and asset-building organizations that are anchor institutions in our nation’s Latino communities.

To change the current economic system to a system of inclusion by providing pathways to and advocating for employee ownership! For businesses seeking to transition into an employee-owned business model

YouthEntity engages and empowers youth to discover their potential by providing real-world learning experiences that prepare them for future success. Our goal is for every young person in the communities we serve to enter adulthood financially literate, with applicable work experience through our career development programs